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Mr. Whalen replied that what they are planning for is adequate. He noted that if it is feasible, BRE could build it, but ultimately it comes down to what the City wants. He indicated that there is a product that hits that and right now can be built. Commissioner Blank inquired if all three parcels should have the same restriction. Chair Narum replied that she is only interested in Parcel 2 and thinks each parcel should have its own restriction. Commissioner O'Connor stated that whatever is decided, he thinks the average should be the same on all three parcels. Commissioner O'Connor asked Mr. Wayland if BRE would be supportive of putting no more than an average of 35 or 40 units to an acre. Mr. Wayland replied that 35 to 40 units would be fine from his perspective and based on what can be built on the parcel. He indicated that he cannot speculate on the future, but he reiterated that the Commission should indicate what it wants and be clear about it because if BRE does not come through and build now, and five to ten years from now, a developer comes in with a higher density, there will be an issue. John Steinbuch, W. B. Carey, owner of Parcel 1 , confirmed that BRE has an option to purchase Parcel 1 but W.B. Carey owns the parcel. He indicated that he would not want the density capped at 35 or 40 units because if BRE were to go away, the parcel might not be developed for a number of years, and given its location, it might warrant a higher density at that time. THE PUBLIC HEARING WAS CLOSED. Commissioner Olson stated that he does not understand why the Commission would not want to maintain that flexibility. Commissioner Pearce indicated that she understands what Chair Narum is saying about the houses across the street from Parcel 2. She noted, however, that Owens Drive is a big street, and if the City maintains its flexibility, not only is it putting more people on the properties to make the retail more viable, but houses will be needed for the people. She added that the City gets new numbers every year, and this is a perfect infill property to allow the flexibility to put units in a design-appropriate way. She stated that she does not see a problem with allowing the flexibility. Chair Narum indicated that she does not disagree with that. She questioned, if projects for all three parcels came in with an average of 50 Or 55 units, if this would be what the City wants for this particular area. EXCERPT: PLANNING COMMISSION MINUTES, January 26, 2011 Page 24 of 40